' 3 YEARS & STILL WAITING '

" THREE YEARS AND STILL WAITING "


It has been over 3 years since the pledge by Vincent Tan to make club debt free and we are no closer to seeing the debt swapped to equity.

For all the arguments regarding the infamous rebranding of the club, the thought of being debt free after years of hearing how our club had a noose around its neck because of historical loan notes I believed that being debt free provided the chance to go on to bigger and better things.

As a fan I feel dismayed that the debt to equity has not happened and too many excuses have been made since May 2012 as to why it hasn't happened.

It is still something I hope takes place but I am not holding my breath.

How do you feel about it ?

Won't happen now we are back in blue

The deal was red and debt free, he was never going to honour his end as we didn't honour our end.

How can we expect him to do anything positive when fans abuse him and want him gone?Id do the same if i was in his shoes.

Tan wouldn't want to leave the club in a bad state that would look bad on him we all know that the cost cutting is part of him clearing the debt and I think the rest will be sorted in time.

How can we expect him to do anything positive when fans abuse him and want him gone?Id do the same if i was in his shoes.

Totally agree with you and if anyone was in his place they would do the same

Things must be quiet on here today

Disappointed it hasn't been done, but wondering if there is some reason for it, possibly related to FFP, whereby he's better off paying a bit down each season ?

He has actually converted SOME debt to equity in the past couple of years, but not a high %

The reason last given by Dalman was 'the timing isn't right' and also some stuff related to disputes with Sam, but this doesn't really make a lot of sense to me.

Right now I'm just grateful we've got a club at all, after what has gone on previously.

How can we expect him to do anything positive when fans abuse him and want him gone?Id do the same if i was in his shoes.

Sadly, I agree with this and have been consistent in that!

I'm not a fan of most of how Tan has gone about a lot of things (particularly the red) but the foul, racist abuse he received (and still gets from some) is hardly the recipe for Vincent Tan to effectively throw money away, is it?

At the end of the day people can only judge when he leaves? Because if he does swap debt to equity then, he's done what he's said would do# there is probably several reasons why he hasn't done it at this time ! So not sure what fuss is about until he leaves.

This has been done two many times now.

I thought we were talking about the last time we had to fight a winding up order

What colour kit are we wearing now? We're not a debt free club because we didn't fulfill the deal fully. Good. I'm glad we're in blue

The deal was red and debt free, he was never going to honour his end as we didn't honour our end.

We were Red for nearly 2 years and instead of making us Debt Free as Promised, our debt instead went out of control and even now it's more than double than when first Tan arrived.

This has been done two many times now.

Not really as Tan made a promise and fans turned against fans and to this day we are still not debt free, we are in fact far worse in debt.

I don't accept the argument that the debt to equity is off the agenda as we are back to blue. Tan turned us back to blue because we was about to lose a lot of income. Simple as that. So why should it be off the agenda?

The deal was red and debt free, he was never going to honour his end as we didn't honour our end.

We were Red for nearly 2 years and instead of making us Debt Free as Promised, our debt instead went out of control and even now it's more than double than when first Tan arrived.

It was obvious what the plan was, spend to get upm spend to stay up then once we were established then he'd debt to equity and sell us or just keep us a as a toy. Malky buggered that up to that left us where we are now.

I don't accept the argument that the debt to equity is off the agenda as we are back to blue. Tan turned us back to blue because we was about to lose a lot of income. Simple as that. So why should it be off the agenda?

Correct Ian

Our club is now far worse than before Tan arrived, fed up fans, an empty stadium and a far worse debt than before Tan came. Sadly all facts.

I don't accept the argument that the debt to equity is off the agenda as we are back to blue. Tan turned us back to blue because we was about to lose a lot of income. Simple as that. So why should it be off the agenda?

Correct Ian

Our club is now far worse than before Tan arrived, fed up fans, an empty stadium and a far worse debt than before Tan came. Sadly all facts.

Not a fact, we were seconds from going out of business constantly before him. Short memories some of us.

The deal was red and debt free, he was never going to honour his end as we didn't honour our end.

We were Red for nearly 2 years and instead of making us Debt Free as Promised, our debt instead went out of control and even now it's more than double than when first Tan arrived.

It was obvious what the plan was, spend to get upm spend to stay up then once we were established then he'd debt to equity and sell us or just keep us a as a toy. Malky buggered that up to that left us where we are now.

I was at the meeting it was said Stan would make our club debt within months, then at a later meeting it was said again by the club on Tans behalf with in weeks, even the media were told the same.

Disappointed it hasn't been done, but wondering if there is some reason for it, possibly related to FFP, whereby he's better off paying a bit down each season ?

He has actually converted SOME debt to equity in the past couple of years, but not a high %

The reason last given by Dalman was 'the timing isn't right' and also some stuff related to disputes with Sam, but this doesn't really make a lot of sense to me.

Right now I'm just grateful we've got a club at all, after what has gone on previously.

Tim

FFP is linked to annual trading losses and not debt levels so it can't be that. There have been several comments made at CCFC board level that the timing wasn't right to do the conversion, but no reason put forward as to why. And a deal with Sam/ Langston can't be it either as the Chairman and the rest of the board have admitted that the debt is due, just that they are under instructions not to pay it.

Like you, I am grateful that there is a club still to support but , with the benefit of hindsight, the debt levels when VT took over might have been easier to deal with than the vastly increased debt levels that have been built up since.

Wasn't he also going to improve our training facilities down the Vale or somewhere else?

So what amount exactly is our debt Annis?

Disappointed it hasn't been done, but wondering if there is some reason for it, possibly related to FFP, whereby he's better off paying a bit down each season ?

He has actually converted SOME debt to equity in the past couple of years, but not a high %

The reason last given by Dalman was 'the timing isn't right' and also some stuff related to disputes with Sam, but this doesn't really make a lot of sense to me.

Right now I'm just grateful we've got a club at all, after what has gone on previously.

Tim

FFP is linked to annual trading losses and not debt levels so it can't be that. There have been several comments made at CCFC board level that the timing wasn't right to do the conversion, but no reason put forward as to why. And a deal with Sam/ Langston can't be it either as the Chairman and the rest of the board have admitted that the debt is due, just that they are under instructions not to pay it.

Like you, I am grateful that there is a club still to support but , with the benefit of hindsight, the debt levels when VT took over might have been easier to deal with than the vastly increased debt levels that have been built up since.

The current debt is just a number though, previously it was held by external parties that had more interest in their money than CCFC, now as Tan holds it it's not really an issue unless he decides to call it in.

Things must be quiet on here today

Wez, Sarcasm again, a bit like the other day I put out ticket sales for Wales which I got of the Welsh FA you immediately tried to undermined it with saying they were a lot more, but in fact you were bullshitting again and they were not , a bit like you seeing players in cafes

If you don't want to post on this forum proper debates go and post on that other one you once left for

Disappointed it hasn't been done, but wondering if there is some reason for it, possibly related to FFP, whereby he's better off paying a bit down each season ?

He has actually converted SOME debt to equity in the past couple of years, but not a high %

The reason last given by Dalman was 'the timing isn't right' and also some stuff related to disputes with Sam, but this doesn't really make a lot of sense to me.

Right now I'm just grateful we've got a club at all, after what has gone on previously.

Tim

FFP is linked to annual trading losses and not debt levels so it can't be that. There have been several comments made at CCFC board level that the timing wasn't right to do the conversion, but no reason put forward as to why. And a deal with Sam/ Langston can't be it either as the Chairman and the rest of the board have admitted that the debt is due, just that they are under instructions not to pay it.

Like you, I am grateful that there is a club still to support but , with the benefit of hindsight, the debt levels when VT took over might have been easier to deal with than the vastly increased debt levels that have been built up since.

The current debt is just a number though, previously it was held by external parties that had more interest in their money than CCFC, now as Tan holds it it's not really an issue unless he decides to call it in.

exactly its like having a large intrest free mortgage hanging around our necks

Things must be quiet on here today

Wez, Sarcasm again, a bit like the other day I put out ticket sales for Wales which O got of the Welsh FA you immediately tried to undermined it with saying they were a lot more, but in fact you were bullshitting again and they were not , a bit like you seeing players in cafes

If you don't want to post on this forum proper debates go and post on that other one you once left for

Eveytime it gets quiet on this board especially international break this subject comes up and plenty are fed up of it that's why the site is no longer busy as it use to be ,people are fed up of recycled stories and negativaty ,and going on about the wales fa thread it was nothing about undermining it I honestly thought we sold a lot more as on the e ticking site there weren't many tickets left you could buy Sat together in the stadium ,I had the last ones for me and my son in the new stand so I wasn't bullshiting as you put it !you can mock me all you like about Nolan being in coffee 1 but he 100% was as I stated,before trying to be little me as you have just tried I think you should look at some of the whopper threads you have put on here over the years ,I will leave it at that !,

Disappointed it hasn't been done, but wondering if there is some reason for it, possibly related to FFP, whereby he's better off paying a bit down each season ?

He has actually converted SOME debt to equity in the past couple of years, but not a high %

The reason last given by Dalman was 'the timing isn't right' and also some stuff related to disputes with Sam, but this doesn't really make a lot of sense to me.

Right now I'm just grateful we've got a club at all, after what has gone on previously.

Tim

FFP is linked to annual trading losses and not debt levels so it can't be that. There have been several comments made at CCFC board level that the timing wasn't right to do the conversion, but no reason put forward as to why. And a deal with Sam/ Langston can't be it either as the Chairman and the rest of the board have admitted that the debt is due, just that they are under instructions not to pay it.

Like you, I am grateful that there is a club still to support but , with the benefit of hindsight, the debt levels when VT took over might have been easier to deal with than the vastly increased debt levels that have been built up since.

The current debt is just a number though, previously it was held by external parties that had more interest in their money than CCFC, now as Tan holds it it's not really an issue unless he decides to call it in.

exactly its like having a large intrest free mortgage hanging around our necks

It is not though Wez.

A mortgage is repayable over a known number of years in affordable regular amounts. The debt due to Vincent Tan is repayable on demand.

The board of CCFC Holdings have a legal obligation to take every step to follow up the promise to convert debt into shares to get that risk removed. However they seem "confused" over where their loyalties and obligations under the law are at times.Should it all go wrong , many of the actual directors and shadow ones ( K Choo and V Tan) do at least have the option of leaving the UK under their foreign passports making it difficult to pursue potential legal action against them. That would leave the "buck" to stop with the UK directors S Borley and M Isaac.

For complete clarity I am not suggesting for one minute that the directors have done anything which has caused a legal action to be taken against the. I am just pointing out potential actions that would arise should the club enter a formal insolvency procedure. It is currently trading whilst insolvent, but that is in itself not an offence.

Disappointed it hasn't been done, but wondering if there is some reason for it, possibly related to FFP, whereby he's better off paying a bit down each season ?

He has actually converted SOME debt to equity in the past couple of years, but not a high %

The reason last given by Dalman was 'the timing isn't right' and also some stuff related to disputes with Sam, but this doesn't really make a lot of sense to me.

Right now I'm just grateful we've got a club at all, after what has gone on previously.

Tim

FFP is linked to annual trading losses and not debt levels so it can't be that. There have been several comments made at CCFC board level that the timing wasn't right to do the conversion, but no reason put forward as to why. And a deal with Sam/ Langston can't be it either as the Chairman and the rest of the board have admitted that the debt is due, just that they are under instructions not to pay it.

Like you, I am grateful that there is a club still to support but , with the benefit of hindsight, the debt levels when VT took over might have been easier to deal with than the vastly increased debt levels that have been built up since.

The current debt is just a number though, previously it was held by external parties that had more interest in their money than CCFC, now as Tan holds it it's not really an issue unless he decides to call it in.

exactly its like having a large intrest free mortgage hanging around our necks

It is not though Wez.

A mortgage is repayable over a known number of years in affordable regular amounts. The debt due to Vincent Tan is repayable on demand.

The board of CCFC Holdings have a legal obligation to take every step to follow up the promise to convert debt into shares to get that risk removed. However they seem "confused" over where their loyalties and obligations under the law are at times.Should it all go wrong , many of the actual directors and shadow ones ( K Choo and V Tan) do at least have the option of leaving the UK under their foreign passports making it difficult to pursue potential legal action against them. That would leave the "buck" to stop with the UK directors S Borley and M Isaac.

For complete clarity I am not suggesting for one minute that the directors have done anything which has caused a legal action to be taken against the. I am just pointing out potential actions that would arise should the club enter a formal insolvency procedure. It is currently trading whilst insolvent, but that is in itself not an offence.

but if the money is only owed to tan ,only he has got anything lose financially ? would he be suing himself as current things stand unless otherwise financially intrested parties buy into us ?

Disappointed it hasn't been done, but wondering if there is some reason for it, possibly related to FFP, whereby he's better off paying a bit down each season ?

He has actually converted SOME debt to equity in the past couple of years, but not a high %

The reason last given by Dalman was 'the timing isn't right' and also some stuff related to disputes with Sam, but this doesn't really make a lot of sense to me.

Right now I'm just grateful we've got a club at all, after what has gone on previously.

Tim

FFP is linked to annual trading losses and not debt levels so it can't be that. There have been several comments made at CCFC board level that the timing wasn't right to do the conversion, but no reason put forward as to why. And a deal with Sam/ Langston can't be it either as the Chairman and the rest of the board have admitted that the debt is due, just that they are under instructions not to pay it.

Like you, I am grateful that there is a club still to support but , with the benefit of hindsight, the debt levels when VT took over might have been easier to deal with than the vastly increased debt levels that have been built up since.

Keith, I was just wondering about the technical treatment of a debt to equity payment.

Also lets not forget that the club is likely to run at a loss for a while longer, so unless he converts some then the debt will just increase.

As for the debt when he came, well that was unsustainable, so for me there's very little difference- if anything it's easier now as its all owed to one person who has it all to lose if the club goes bust rather than to a lot of creditors all of whom would have no second thoughts about putting the club through.

Annis makes a good point, Tan had 2 years of us in red to do it so why didn't he??? Falling over himself with excuses? He could get his lawyers to sort it in a few weeks but no no no....I despair with the new breed of fans like wez, no wonder all our decent fans have long gone...you rep what you sow w high is why our stadium is like a morgue.....
And he only went back to blue because red was a complete disaster, we'd have under 10000 fans going now for sure if we were still bleeding to death in red....

Last edited by goats on Sun Nov 15, 2015 4:13 pm, edited 1 time in total.